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Is prepay insurance a current asset?

Anonymous

∙ 11y ago

Updated: 9/18/2023

Yes any expense paid in advance is current assets as the benefit of that amount is required to be taken in future.

Wiki User

∙ 11y ago

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Is prepaid insurance a current asset or fixed asset?

Current Asset

Is Prepaid insurance is an asset account?

Prepaid insurance is that amount which is paid in advance for future insurance so until actual insurance facility is availed by company it is an asset of company and if it is for short term or will be availed in current fiscal year then it is current asset otherwise a fixed asset, if some portion is usable in current fiscal year then only that portion will be current asset and remaining will be fixed asset.

Insurance premium paid in advance Is it a accrued expenses?

No, if Insurance premium is paid in advance then it is a Prepayment - current asset.

Is gold is fixed asset or current asset?

Current asset

What type of account is Prepaid Insurance?

Prepaid insurance is personal nature of account and amount in it is shown as current asset in balance sheet.

Related Questions

Is prepaid insurance a current asset or fixed asset?

Current Asset

Is Prepaid insurance is an asset account?

Prepaid insurance is that amount which is paid in advance for future insurance so until actual insurance facility is availed by company it is an asset of company and if it is for short term or will be availed in current fiscal year then it is current asset otherwise a fixed asset, if some portion is usable in current fiscal year then only that portion will be current asset and remaining will be fixed asset.

Is prepaid insurance a current asset?

yes, it is

Insurance premium paid in advance Is it a accrued expenses?

No, if Insurance premium is paid in advance then it is a Prepayment - current asset.

Is gold is fixed asset or current asset?

Current asset

What type of account is Prepaid Insurance?

Prepaid insurance is personal nature of account and amount in it is shown as current asset in balance sheet.

Is cafe a current asset or fixed asset?

Current asset.

Is money lent by a bank a current asset or non current asset?

non current asset

Is prepaid insurance a debit or credit balance?

Prepaid insurance is that amount which is paid in advance and no benefit has taken yet that's why it is current asset for business.

Is a security deposit a current asset or current liability?

Current Asset

Is premises a current asset or non current asset?

non-current assets.

Is fixtures and fittings a current asset or a non current asset?

non current

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